Fannie Mae Cracks Down on Strategic Defaulters

Even when "strategic default" makes economic sense. Lenders, of course, don’t want this. Fannie Mae, the mortgage giant, issues this warning: "Walking away from your property is not a good choice..

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LuxuryCondosMIA: Fannie Mae gets tough on strategic defaulters – Freddie Mac, which also buys mortgages, says it is examining Fannie Mae’s policy. To determine if a borrower is in default, Fannie examines whether the homeowner still has access to credit and is paying that debt and others. Cracking down on strategic defaulters is controversial.

Fannie Mae Crack Down On Strategic Defaults – activerain.com – Fannie Mae Crack Down On Strategic Defaults | New Fannie Mae Walk-Away Policy By Tim and Julie Harris Education & Training with Tim & Julie Harris Real Estate Coaching Email Short. Fannie Mae is cracking down on Walk-Aways.

Bill Radke: The giant government-owned mortgage company Fannie Mae is taking action to prevent homeowners from walking away from their mortgages when they could afford to make the payments.

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Seven-Year Lockout Policy for Strategic Defaulters We would like to share this current update on recent Fannie Mae policy changes designed to encourage borrowers to work with their servicers and pursue alternatives to foreclosure. This change will affect homeowners who decides to do a "strategic default," – when borrowers are walking away from their homes [.]

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Fannie Mae cracks down on borrowers. updated jun 23, 2010, 3:23pm EDT. Fannie Mae is boosting penalties for strategic defaulters by prohibiting them from getting a mortgage, backed by the.

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Two years into the housing crash, Fannie Mae just now announced a war on strategic defaulters: . WASHINGTON, DC – Fannie Mae (FNM/NYSE) announced today policy changes designed to encourage.

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Any homeowner considering a "strategic default" is wise to think twice. Well, make that three times, as Fannie Mae (Stock Quote: FNM) is cracking down harder on borrowers who walk away from.

It argues that credit scores such as FICO failed to predict large numbers of defaults during the mortgage bust years – most notably thousands of “strategic. 690 FICO scores and down payments might.

Florida homeowners get huge chunk of BofA settlement Florida grabs a chunk of foreclosure settlement money for state budget. of the money will be used to directly help homeowners. Settlement documents indicate that Bondi negotiated the 10.

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